Lithium Americas Corp (NYSE:LAC) shares traded up 8.6% during trading on Wednesday . The stock traded as high as $3.52 and last traded at $3.52, 219,569 shares were traded during trading. An increase of 24% from the average session volume of 176,999 shares. The stock had previously closed at $3.24.
Separately, Zacks Investment Research upgraded Lithium Americas from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Friday, August 23rd.
The firm’s 50-day moving average is $3.47 and its 200 day moving average is $3.86. The stock has a market cap of $288.52 million, a PE ratio of -13.54 and a beta of 1.34. The company has a debt-to-equity ratio of 1.13, a quick ratio of 7.55 and a current ratio of 7.87.
Several institutional investors and hedge funds have recently made changes to their positions in LAC. Millennium Management LLC grew its holdings in shares of Lithium Americas by 37.8% during the fourth quarter. Millennium Management LLC now owns 19,605 shares of the company’s stock worth $62,000 after buying an additional 5,379 shares during the last quarter. Toronto Dominion Bank lifted its position in Lithium Americas by 87.3% during the 1st quarter. Toronto Dominion Bank now owns 9,547 shares of the company’s stock worth $35,000 after acquiring an additional 4,451 shares during the period. Quattro Financial Advisors LLC acquired a new stake in Lithium Americas during the 2nd quarter worth approximately $134,000. Signition LP purchased a new position in shares of Lithium Americas in the 2nd quarter valued at approximately $48,000. Finally, Van ECK Associates Corp grew its stake in shares of Lithium Americas by 67.8% in the 2nd quarter. Van ECK Associates Corp now owns 1,853,084 shares of the company’s stock valued at $7,472,000 after purchasing an additional 748,999 shares during the last quarter. Institutional investors and hedge funds own 5.94% of the company’s stock.
About Lithium Americas (NYSE:LAC)
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.
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